EOS/USD Medium-term Trend: Bearish

Resistance levels: $ 7.5, $8.0, $8.5
Support levels: $7.0, $6.5, $6.0

Yesterday, August 2nd, the price of EOS was in a bearish trend. The downward trend continued as the price fell from $7.16 to $6.97. However, if the bearish presure continued, the price of EOS is likely to fall to the low of $ 4.19. And if the digital asset falls to the low of $ 4.19, it will be a trading opportunity for traders to initiate long trades.

From the chart, the MACD line and the signal line are below the zero line which indicates a sell signal. Similarly, the price of EOS is below the 12-day EMA and the 26-day EMA which indicates that price is falling. Nevertheless, the Relative Strength Index period 14 is level 34 which indicate that the market is oversold suggesting bulls to take control of the market.

From the 1-hour chart, the price of EOS is in a sideways trend. From the chart, the MACD line and the signal line are below the zero line which indicates a sell signal. Also, the price of EOS is above the 12-day EMA and the 26-day EMA which indicates that price of EOS is rising.

The views and opinions expressed here do not reflect that of BitcoinExchangeGuide.com and do not constitute financial advice. Always do your own research.

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